Connecticut House Bill HB05157

Connecticut 2013 Regular Session

• Introduced: 1/10/13
• Refer: 1/10/13

Caption

An Act Increasing The Maximum Allowable Security Deposit Amount.

Impact

The enactment of HB05157 would have a significant effect on rental agreements and relationships between landlords and tenants throughout the state. By increasing the financial threshold for security deposits, the bill intends to offer landlords greater protection against possible defaults or damages. However, this change could also present a burden for prospective tenants, as they may need to provide a larger upfront payment when entering into a lease. This could disproportionately affect lower-income renters, potentially limiting their access to housing options.

Summary

House Bill 05157 proposes an amendment to current housing regulations by increasing the maximum allowable security deposit that a landlord can charge a tenant. Specifically, the bill seeks to raise this limit from the existing maximum of two months' periodic rent to three months' periodic rent. This change is aimed at providing landlords with enhanced financial security when leasing out properties, particularly in cases where there might be concerns regarding potential damages or unpaid rent.

Contention

Discussions surrounding HB05157 have revealed notable points of contention. Proponents argue that the increase in the security deposit cap would incentivize property owners to invest more in maintaining their properties, thus benefiting the overall quality of housing. Opponents, however, have raised concerns about the implications this could have for affordable housing. Critics suggest that raising the deposit limit may create barriers to entry for low-income individuals and families, who may struggle to afford the higher initial costs associated with renting a home. Hence, this bill raises essential questions about the balance between protecting landlords' interests and ensuring equitable access to housing for tenants.